Tag Archives: GBP/USD

Daily FX Update

The pressure is on for today’s press conference by President Draghi and Friday’s nonfarm payrolls release.

Today’s highlights: AUDUSD has held key support at .8674/58 as expected, and

EUR/USD has broken the strong support areabetween 1.2755 and 1.2662, confirming anunderlying bearish trend.

FX markets have been all about a USD squeeze. EURUSD popped up to 1.2662,

EUR/USD continued to dip below the Bollinger band base overnight but held above the recent 2014 and 2 year lows.

The pair closed in NY Wednesday at $1.6182 after rate had seen a recovery to $1.6252,

The NZD sits at a similar level, around 0.7800, thismorning.

EUR/USD has broken the strong support areabetween 1.2755 and 1.2662, confirmingpersistent strong selling pressures.

Today’s highlights: AUDUSD’s collapse has extended to retest the .8658 low for the year.

AUDUSD underperformed, dropping to 0.8680 before finding support.

The pair closed in NY Tuesday at $1.6212 after rate was pressed to lows of $1.6166 on end month dollar demand,

Fresh 2014 and 2 year lows overnight see immediate focus having shifted to the $1.2465 Aug 28 2012 low with